You are likely concerned about what happens to your assets when you pass. And you want your wishes to be respected. With minor children in the picture, making sure they are taken care of is another consideration.
With a will, you can see to all that. As a Tampa, Florida estate planning attorney, we’d like to shed light on how a will ensures your wishes and loved ones’ welfare. We’re also going to touch on trusts and which may be the estate transfer method for you.
Settle your children’s welfare
For many, a critical part is its provisions for their children. That includes who raises them and the funds to be made available. There is nothing as effective as a will if you want peace of mind that, should anything happen, your children will be in safe and caring hands.
Decide the distribution of your assets
When someone passes on without a will, or intestate, judges and state officials make decisions about the person’s estate. Without legally valid documents setting out your wishes, state officials make pronouncements about your assets based on their own guidelines.
Having a will means you decide what happens to your property and who it goes to. That includes homes, vehicles, and businesses.
Protect your wishes from challenges
Witness documents prepared by a Tampa, Florida estate planning attorney protect your wishes from challenges. The probate process can take up to a year if relatives contest the desires you had unofficially expressed.
Your will makes your intentions for your assets legally enforceable. You can leave the legacy you truly want, and without fear of selfish interests trying to tarnish it.
Save your beneficiaries money, time, and emotional energy
Without having to fight for your wishes, your relatives save on attorney and court fees. They are also spared the emotional toll of settling a departed loved one’s affairs, along with the lengthy and complicated processes.
Why you might want to establish a trust
A trust is another method of estate transfer. When establishing one, you set up a fiduciary relationship where another party has the authority to handle your assets for your beneficiaries.
Living trusts give you as the grantor the ability to change them. They’re also active even while you’re alive.
Pass on more of your wealth with tax-efficient estate planning
A trust can be structured to help your estate save money on taxes. You can save further by offsetting taxes with gifts and donations to charities you care about. And additional savings can be through lower costs and fees.
Bypass the probate process
While a court administrator examines all wills during the probate process, trusts don’t go through this process. As the grantor, you pass your property directly onto your named beneficiaries. And when you pass away, your legacy is preserved because the trust is not contestable.
Protect your family at a reasonable price with the leading Tampa, Florida estate attorney
Anthony Candela is one of less than 1% of lawyers that are board-certified. Helping you plan your future and ensure comfort for your loved ones is our mission at Candela Law Firm. We can help with anything that’s necessary for your loved ones to take comfort in your legacy.
Our comprehensive estate planning includes wills, trusts, power of attorney, pet trusts, probate, and will retention. Whatever’s needed to honor your wishes, we are the legal experts to have on your side.
What’s more, our estate planning services are reasonably priced.
Schedule a consultation with us today and have your say in your loved ones’ future.